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Farm Futures' field survey finds growers expect yields well below USDA's August forecasts, with median corn at 157 bu/acre and soybeans at 45 bu/acre. Growers cite uneven stands, wet springs followed by dry conditions, and July dryness in Kansas.
If harvested yields fall short of USDA's 169.5 bu/acre corn forecast, later USDA cuts could tighten supplies and lift feed grain and meal prices.
farmprogress.comBryce Knorr 1Aug 14, 2017After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
